Sinopec Engineering to overhaul governance, cut capital, eliminate supervisory committee

Sinopec Engineering (Group) Co., Ltd. is set to amend its articles of association, abolish its supervisory committee, and reduce its registered capital, following a board resolution on November 6, 2025. These changes, aimed at enhancing corporate governance and complying with regulatory rules, will be proposed at the company's first extraordinary general meeting (EGM) on December 23, 2025, in Beijing.

The proposed amendments include deleting content related to the supervisory committee, whose functions will be assumed by the audit committee, and establishing an employee representative director position. The company also clarified the functions of general meetings and the board, and updated the definition of “class shares” in accordance with the Company Law of the People's Republic of China.

Additionally, Sinopec Engineering will reduce its registered capital due to the cancellation of 3,857,000 repurchased H shares, effective May 9, 2025. This move changes the total share count from 4,397,881,000 to 4,394,024,000, adjusting the registered capital from RMB4,397,881,000 to RMB4,394,024,000. These comprehensive reforms reflect the company's commitment to adapting to evolving regulatory standards.